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HomeLatest NewsPutin signed a law on the sale at auction of houses seized...

Putin signed a law on the sale at auction of houses seized from corrupt officials KXan 36 Daily News

Date: April 17, 2024 Time: 22:58:30

The initiative refers to the residential premises received by the State housing stock. Apartments are subject to confiscation both those convicted of corruption crimes and those who could not prove the legality of the funds spent on the purchase of real estate.

These homes will be privatized only through auction. Please note that the law applies only to those residential premises whose market value on the secondary market is two or more times the regional average. The indicator of the average market value of a square meter of housing is calculated by Rosstat and approved by the Ministry of Construction of Russia on a quarterly basis. The legality of the auction sale will be ensured by current legislation, with the participant offering the highest price being the winner of the auction.

The cheapest apartments will be transferred to social rent through local authorities, Deputy Finance Minister Alexei Moiseev said.

“The current mechanism for disposing of houses confiscated for corruption offenses is ineffective and does not allow targeted support for needy categories of citizens,” said Sergey Gavrilov, head of the relevant committee on property, land and property relations.

Sergei Altukhov (ER), a member of the State Duma Committee for Economic Policy, in a comment to RG, cited data from the General Prosecutor’s Office, according to which almost 200 billion rubles were confiscated in property from unscrupulous Russian officials in the last three years alone. “As a rule, these are land, apartments, cars, the value of which has not been confirmed by the income of officials,” the deputy noted. And even now, formally, the property can be transferred to those who need it, but the norm does not work, Altukhov said. “Maintaining huge apartments or luxury houses is very expensive and simply not affordable,” he explained. The new mechanism for auctioning high-value properties will allow the proceeds to be allocated to the purchase of homes for a greater number of beneficiaries and people on the waiting list of various categories, the parliamentarian concluded.

The law enters into force 10 days after its official publication.

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Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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